Metro area index
Home appreciation in the Asheville, NC metro area
FHFA HPI® data shows the Asheville, NC metro area's all-transactions index changed +1.4% over the year to Q2 2026, versus +2.4% for North Carolina and +3.0% for the U.S. That ranks 304th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +1.4%
- 5-year change
- +45.3%
- Since Q1 1995
- +422%
- Metro rank (1 year)
- 304th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Asheville, NC vs North Carolina and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Asheville, NC: 522.3
- North Carolina: 376.3
- United States: 391.6
Appreciation by time window
| Window | Metro | NC | U.S. | Gap vs NC | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +1.4% | +2.4% | +3.0% | −1.0 pts | −1.7 pts |
| 3 years | +8.7% | +12.3% | +12.9% | −3.6 pts | −4.1 pts |
| 5 years | +45.3% | +51.4% | +41.3% | −6.2 pts | +4.0 pts |
| 10 years | +108% | +113% | +93.3% | −5.3 pts | +14.6 pts |
| Since Q1 1995 | +422% | +276% | +292% | +146.0 pts | +130.8 pts |
3-digit ZIP regions in the Asheville, NC area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 288 · Asheville, NC area | NC | -2.3% | +41.6% | +504% | 100% |
| 287 · Hendersonville, NC area | NC | +3.9% | +52.4% | +361% | 46% |
Boom, bust, and recovery in Asheville, NC area
Asheville, NC area's index peaked in Q1 2008, fell 15.3% to its low in Q2 2012, and regained its peak in Q4 2015, about 7.8 years after the top. Today it sits +118% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2008 | Q2 2012 | -15.3% | Q4 2015 (7.8 yrs) | +118% |
| NC | Q1 2008 | Q2 2012 | -13.1% | Q4 2016 (8.8 yrs) | +109% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Asheville, NC area's index has changed +136% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | NC after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -2.4% | -1.4% | -0.8% |
| 3 years | +9.8% | -1.0% | +2.3% | +2.8% |
| 5 years | +24.0% | +17.1% | +22.1% | +13.9% |
| 10 years | +39.1% | +49.5% | +53.4% | +39.0% |
| Since Q1 1995 | +121% | +136% | +70.0% | +76.8% |
If you bought in the Asheville, NC area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +414% | $1,541,584 |
| Q2 2000 | +279% | $1,137,583 |
| Q2 2005 | +171% | $813,614 |
| Q2 2010 | +140% | $718,652 |
| Q2 2015 | +123% | $668,866 |
| Q2 2020 | +65.1% | $495,203 |
| Q2 2021 | +45.3% | $435,816 |
| Q2 2023 | +8.7% | $326,123 |
| Q2 2025 | +1.4% | $304,081 |
Frequently asked questions
- How much have home prices risen in the Asheville, NC area?
- FHFA HPI® data for the Asheville, NC metro area shows changes of +1.4% over one year, +45.3% over five years, and +108% over ten years to Q2 2026, and +422% since Q1 1995.
- Is the Asheville, NC area beating the national average?
- Over the past year the metro's index moved −1.7 pts versus the U.S.; over five years the gap is +4.0 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.